Refund obligations for public issue applications demand prompt repayment with interest and regulatory enforcement for non compliance. Obligation to refund application monies under section 73 requires repayment within ten weeks of the subscription list closing, with interest for delayed payments; regulators must act on investor complaints, coordinate with Stock Exchanges, issue show cause notices or prosecute directors where appropriate, inspect company records to verify compliance, and file a report three months after subscription closure detailing complaints and actions taken.